Bravada Gold Corporation: Arranges Shares for Debt Settlement
08.07.2016 | Marketwire
VANCOUVER, Jul 8, 2016 - Bravada Gold Corp. (TSX VENTURE:BVA) (FRANKFURT:BRT) ("Bravada" or the "Company") reports that the Company has received TSX Venture Exchange acceptance for a debt settlement agreement with certain creditors to settle debts owing in the amount of $754,063 by the issuance of 4,435,666 common shares at a price of $0.17 per share. The securities issued upon this debt settlement will be subject to a hold period of four months and one day from issuance as well as a US restrictive legend.About Bravada Gold Corporation
Bravada is an exploration company with 15 properties in Nevada, one of the best mining jurisdictions in the world. The Company follows a portfolio approach to exploration, focusing on gold and silver, and during the past 11 years has successfully identified and advanced properties that have the potential to host high-margin deposits while successfully attracting partners to fund later stages of project development. Currently, five of its Nevada properties are being funded by partners, which in aggregate include earn-in work expenditures of up to $6.5 million and payments to Bravada of up to +$3.0 million in cash and shares, with Bravada retaining residual working or royalty interests.
Bravada's most advanced precious metals property is Wind Mountain, which hosts a significant Indicated and Inferred resource of gold and silver with exciting potential for new discoveries. Currently defined resources at Wind Mountain are primarily oxide and near surface; thus, a low-cost open-pit, heap-leach operation could be permitted relatively quickly. The Company also holds a royalty interest in the Shoshone Pediment barite deposits, which are being permitting for mining by Baker Hughes.
On behalf of the Board of Directors of Bravada Gold Corp.
Joseph A. Kizis, Jr.
Director, President
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.<
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Bravada Gold Corp. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
A Manex Resource Group Company
Contact
Bravada Gold Corp.
604.641.2759
www.bravadagold.com